Thursday, February 3, 2011

Ready To Roll

I think we're finally ready to begin moving higher, once we survive today. Remember, the Thursday before the monthly BLS BS report is almost always an Evil Empire raid day. Why, you ask? Its quite simple. The banks know, just like you and I, that the employment number will disappoint. It always does. A disappointing number will cause the PMs to rise so care must be taken to hammer down price today.
For example, look right to see how quickly the sharp rally this morning was beaten back. Expect this type of action all day. Any rally will be met with a commensurate amount of fresh paper from Blythe and The Monkeys. Only a complete breakdown in the Middle East would cause Blythe to pull her offers at this point.

Also, have you noticed all the recent press about food price inflation? Seems like everywhere you turn these days you find articles that detail this growing crisis. Regular visitors to Turd's World should not be surprised by any of this, however. Here are a couple of refreshers:
http://tfmetalsreport.blogspot.com/2010/11/absolute-advice-for-relatives.html
http://tfmetalsreport.blogspot.com/2010/12/move-along-please-nothing-to-see-here.html
And, if you've forgotten the absolute importance of minimizing inflation to the maintenance of the Ponzi, perhaps you should watch this again:
http://www.youtube.com/watch?v=9FGVtJRWP6k
At any rate, this is just the beginning. Inflation is going to get worse by the day. Prepare now.

OK, for today, for fun you can watch Blythe desperately attempt to suppress price. She'll be at it all day. Don't sweat it. Tomorrow will be more fun.
I'm ready to predict a nice move UP here. Calling short-term moves is pretty tricky business so don't bet the bank on this one...too many ancillary factors can affect things. However, if you look at these charts, the signs point to the next leg higher, and away from Turd's Bottom, beginning soon.
Here's an 18-hour gold. I apologize for the extra lines but, in this case, they're necessary.
Breaking out of this little range should take us UP to 1360, initially, then 1370.
Now look at silver:
Recall that support can become resistance and vice versa. Now that $26.50 was our bottom and we've securely bested 28, our next target is $29.50 and you can see it on this chart.

OK, there you go. If we can survive today without too much monkey damage, those levels are in sight tomorrow. Kick back. Relax. Ignore today. Live for tomorrow. TF
Posted by at

79 comments:

  1. CO_DanFebruary 3, 2011 at 10:16 AM

    Let's see a nice bounce off of $28! Shore up support there.

    ReplyDelete
  2. MammothFebruary 3, 2011 at 10:17 AM

    So you know I was like, looking at the price of Gold and it was like, OMG you know? Like, I'm so sure it is a gnarly buy at like, four-teen hundred dollars for an ounce. As if! Totally. You want me to like go to the coin store and like buy some? What-ever. You know I would be totally stoked, you know if it like, went below thir-teen hundred dollars.

    But you know with Egypt like, sketchy, and the Euro and dollar so totally bogus and then you like, add in Oil and other commodities then today’s barf price for Gold doesn’t really seem so like, buggin, you know?

    ReplyDelete
  3. WineGuyFebruary 3, 2011 at 10:19 AM

    Get the lube ready. Smack down time!

    ReplyDelete
  4. brad pitts better looking brotherFebruary 3, 2011 at 10:19 AM

    "OK, there you go. If we can survive today without too much monkey damage, those levels are in sight tomorrow."

    nothing like blatantly monkeying around with monkey wrenches creating more monkey business in the crimex.

    it's enough to make you go apeshit.

    ReplyDelete
  5. kliguy38February 3, 2011 at 10:20 AM

    Great Celente on today ...

    ttp:h//www.kingworldnews.com/kingworldnews/Broadcast/Entries/2011/2/3_Gerald_Celente.html

    ReplyDelete
  6. TylerFebruary 3, 2011 at 10:38 AM

    just bought that dip

    ReplyDelete
  7. AnonymousFebruary 3, 2011 at 10:39 AM

    You write: "Remember, the Thursday before the monthly BLS BS report is almost always an Evil Empire raid day."

    I count down days before NFP at 7 out of the last 12 and 16 out of the last 25 NFPs using GLD close on Wed and close on Thur.

    That's roughly 64% of the time.

    I would perhaps go as far as saying: "Usually" but not as far as "Almost always".

    Do you back-test any of the statements you make or is it all based on gut experience from trading.

    With respect,

    MontyHigh, www.worldofwallstreet.us

    ReplyDelete
  8. QuintusFebruary 3, 2011 at 10:44 AM

    MontyHigh - just because we may not have finished the day down doesn't mean that there was no raid.

    If (Big if) Gold creeps up over the rest of trading today and finishes in the green, would you deny that the EE raided the metal for a $10 drop right on schedule coming into the London PM close?

    ReplyDelete
  9. JimmyTheHandFebruary 3, 2011 at 10:45 AM

    Just because they raid doesn't mean it will be a down day, sometimes they raid like h3ll in the morning only to have a FUBM painted on the chart later. Don't know if that's the case on those specific days you are talking about or not MontyHigh, something to think about though. Remember you are dealing with manipulators, there is no exact science to it like those algos on wall street that are programmed to always go higher!

    ReplyDelete
  10. ThisisrichFebruary 3, 2011 at 10:46 AM

    The Kitco 3-day overlay charts are sometimes just stunning to see the exact same price action at exactly the same time during the day.

    http://www.kitco.com/charts/livesilver.html

    We need this type of chart daily overlapped for a full week. Additionally, weekly overlapped for a month or more would be nice.

    Finally, I like that someone can step up and in 10 minutes take $0.30 to 0.40 out of silver (nearly 2%).

    ReplyDelete
  11. T LaneFebruary 3, 2011 at 10:47 AM

    Just bought 50oz on the dip.

    ReplyDelete
  12. ThisisrichFebruary 3, 2011 at 10:49 AM

    Another comment...every time a raid hits like that I buy another 25 rounds (Ag that is!). Looks like you have less and less time to react every day. Luckily, it happens at exactly the same time every day. BTFD4EVA

    ReplyDelete
  13. AnonymousFebruary 3, 2011 at 10:53 AM

    Gainesville Coins now has generic 100 oz bars back in stock. Pan American Silver / .55 over spot.

    http://www.gainesvillecoins.com/products/157162/Generic100ozSilverBar999PureSilver(ThisisastockphotoonlyActualbardesignandbrandmaydiffer).aspx

    ReplyDelete
  14. XtyFebruary 3, 2011 at 10:55 AM

    Thisisrich - there is a chart showing a thousand days overlaid. I will hunt for it and post a link.

    ReplyDelete
  15. Turd FergusonFebruary 3, 2011 at 10:59 AM

    quintus: thanks for answering Monty. That's exactly right!
    btw, another FUBM forming???

    ReplyDelete
  16. Pick52February 3, 2011 at 10:59 AM

    $6,000 Silver and ONE BANK:

    http://www.roadtoroota.com/public/94.cfm

    ReplyDelete
  17. kliguy38February 3, 2011 at 11:01 AM

    Still throwing my paper reserves in here......may be wrong in the short term but not the intermediate or long term.....BTFD and forgettaboutit......

    ReplyDelete
  18. WineGuyFebruary 3, 2011 at 11:02 AM

    Look at the USD, What a freaking JOKE! Simply amazing.

    ReplyDelete
  19. AnonymousFebruary 3, 2011 at 11:05 AM

    This blog is a Godsend.

    Kliguy38, just checked out your blog as well. Awesome.

    ReplyDelete
  20. WineGuyFebruary 3, 2011 at 11:07 AM

    Pick52 - I posted something yesterday from the RD2ROOTA public database regarding gold and 911. Both articles are lengthy but highly worth reading in my opinion. The articles put a different spin on things.

    ReplyDelete
  21. kliguy38February 3, 2011 at 11:07 AM

    thanks ginger join the group we usually have a good daily comment section too......some heavy hitters in there ...pay attention to Palmerjoe when he comes on....big hitter...gl

    ReplyDelete
  22. Pick52February 3, 2011 at 11:12 AM

    I saw that WineGuy, thank you. That was what reminded me of R2R.

    Every time I've gone to that site in the past I've clicked on the links within each individual section and have always gotten so sidetracked that I never return to where I started.

    One of these Sundays I'm going to try to plow through the whole thing in one sitting!

    Cheers

    ReplyDelete
  23. AnonymousFebruary 3, 2011 at 11:16 AM

    Thanks kliguy38 ..Lots of great stuff you have there for me to catch up on. I appreciate your perspective and think you are dead on in your commentaries ...Just like the proprietor of this great blog!...(which I have followed from its beginning ;)

    Folks like TF and you ARE making a difference. Keep it up!

    ReplyDelete
  24. JimmyTheHandFebruary 3, 2011 at 11:20 AM

    Looks like a good FUBM there, back to where we started at least.

    ReplyDelete
  25. TylerFebruary 3, 2011 at 11:26 AM

    gold is looking really strong today

    ReplyDelete
  26. rickjamescouchFebruary 3, 2011 at 11:27 AM

    Can you give me a link to your site kliguy38?

    What qualifies one as a "heavy hitter"?

    ReplyDelete
  27. QuintusFebruary 3, 2011 at 11:28 AM

    Thisisrich....

    I have a chart prepared by Dimitri Speck, who has close links to Gata, overlaying the daily price movements for Gold for a six year period up to 2009. It's a little out of date, but the pattern has not changed, and is very revealing.

    Turd, Is there any way I can post this?

    ReplyDelete
  28. AnonymousFebruary 3, 2011 at 11:32 AM

    To view another's blog here.. just click on their username and it will take you right there!

    ReplyDelete
  29. zzz28February 3, 2011 at 11:33 AM

    Nice to own some Fronteer (FRG)as it got bought out by Newmont (NMC.TO) this morning. Hope this gets the buyout ball rolling in the miners.

    ReplyDelete
  30. Turd FergusonFebruary 3, 2011 at 11:34 AM

    quintus: pls email it to me and I'll post it later today when I have a moment. Thanks!

    FUBM!!!

    ReplyDelete
  31. kiyoteiFebruary 3, 2011 at 11:38 AM

    I love the great links folks post here!
    Keep it up.

    I'm off to the coin shop today to pick up some Perth mint gold bars. I highly recommend my coin guy: http://www.libertycpm.com
    :-)

    ReplyDelete
  32. XtyFebruary 3, 2011 at 11:40 AM

    This should get you the chart:

    http://www.24hgold.com/24hpmdata/articles/img/20100113CLA16323.png

    ReplyDelete
  33. AnonymousFebruary 3, 2011 at 11:59 AM

    xty...love the chart...got one for silver???

    ReplyDelete
  34. TylerFebruary 3, 2011 at 11:59 AM

    will they let us break through 28.50?

    ReplyDelete
  35. Don PlataFebruary 3, 2011 at 12:02 PM

    I am not quick enough to interpret minute-by-minute charts, nor nervy enough for short-term or day trading. Nonetheless, this blog is fascinating and informative. I look at the 1 and 5 year charts and observe the goings on in the world around me and conclude that gold is probably setting up to move much higher. Silver might go higher, but also has a lot of downside potential right now.

    I am thinking that the way to get rich in PMs is the same as in real estate: Never sell. (Yes this is a koan.)

    ReplyDelete
  36. kliguy38February 3, 2011 at 12:05 PM

    GOlD just exploded ......someone just blew a gasket in JPM......

    ReplyDelete
  37. Don PlataFebruary 3, 2011 at 12:06 PM

    Holy smoke!

    ReplyDelete
  38. AnonymousFebruary 3, 2011 at 12:07 PM

    Wow. That's not just FUBM, that's FUBM hard, with a vengeance, no lube, in the rear, etc.

    That's $0.50 in 30 minutes -- almost as fast as the takedown in the morning. Did the monkeys hit the 'cover fresh shorts' button a tad too late?

    ReplyDelete
  39. AnonymousFebruary 3, 2011 at 12:08 PM

    Hi Quintus, you can always upload an image of the chart you want to show us to imgur.com and post a link here. Its very easy; no account needed.

    ReplyDelete
  40. XtyFebruary 3, 2011 at 12:08 PM

    Joe - I haven't seen a like chart for silver but I'll bet it would be almost identical! I will go on a google hunt.

    ReplyDelete
  41. SoccerDadFebruary 3, 2011 at 12:12 PM

    Turds Bottom just blew out a gigantic log!

    ReplyDelete
  42. HarryFebruary 3, 2011 at 12:13 PM

    Down 50 cents one minute and up 70 the next? Hey, just another day in the commodities pit with BM...

    Turd, here's a little graph I made for you: http://imgur.com/nQNrC

    ReplyDelete
  43. XtyFebruary 3, 2011 at 12:13 PM

    Quintus - I think the chart you are referring to is the one I posted a link to.. The links aren't hypertext, but just cut and paste or whatever.

    ReplyDelete
  44. kiyoteiFebruary 3, 2011 at 12:16 PM

    Thar she blows. Gold is going UPVERT hard.

    ReplyDelete
  45. Qussl3February 3, 2011 at 12:16 PM

    Gold may have finally broken its downtrend in YEN, silver is looking at a move too.

    This is probably it.

    Barring a credit crunch, the 20 week odd rally cycle is likely upon us.

    ReplyDelete
  46. trollercoasterFebruary 3, 2011 at 12:17 PM

    epic!

    ReplyDelete
  47. TylerFebruary 3, 2011 at 12:33 PM

    wonder if we can hold 28.50 as a new bottom

    ReplyDelete
  48. CO_DanFebruary 3, 2011 at 12:37 PM

    Are there weak-handed shorts that are going to get shaken out here?

    Wow, that felt good to say.

    ReplyDelete
  49. AnonymousFebruary 3, 2011 at 12:37 PM

    Where are the miners? ...Lag time?

    ReplyDelete
  50. AnonymousFebruary 3, 2011 at 12:40 PM

    Never mind. Miners just caught on. :[] (at least mine)

    ReplyDelete
  51. kiyoteiFebruary 3, 2011 at 12:42 PM

    Found a fun little tool today:
    http://coinmill.com/XAG_calculator.html

    Converts your silver into gold and global currencies. Just discovered that my silver is worth 188,721,039,265,481.53 Zimbabwean dollars!
    Hahahah nice to know.

    ReplyDelete
  52. UK turdwatcherFebruary 3, 2011 at 12:43 PM

    Bernanke speech out now - QE still needed for jobs. CNBC saying to sell into the gold rally..
    ho hum.

    ReplyDelete
  53. JimmyTheHandFebruary 3, 2011 at 12:46 PM

    Turd, is that the biggest FUBM to date?

    ReplyDelete
  54. XtyFebruary 3, 2011 at 12:53 PM

    It's a FUBOOM!

    ReplyDelete
  55. reefmanFebruary 3, 2011 at 12:58 PM

    Gold goes HOGWILD!

    ReplyDelete
  56. MammothFebruary 3, 2011 at 1:03 PM

    Well thanks Turd for not deleting my idiotic comment near the top of the list. We all need a little bit of humor in these trying times.

    Found your blog via a link fron Queenbee's blog
    http://queenbee-insidethehive.blogspot.com/

    Loaded up on some more PM's just before things went vertical at noon EST.

    ReplyDelete
  57. MHFebruary 3, 2011 at 1:10 PM

    The flash dash from 1/28 was larger, although this move up may not be finished yet. On the other hand, Blythe could and probably will attack any time.

    ReplyDelete
  58. AnonymousFebruary 3, 2011 at 1:11 PM

    Mammoth, I thought maybe you were really Megan McCain. :[]

    ReplyDelete
  59. Pick52February 3, 2011 at 1:21 PM

    Tyler,

    28.75 with 10 mins to go

    Homestretch looks clear...cross your fingers

    ReplyDelete
  60. afrumFebruary 3, 2011 at 1:22 PM

    Ditto turd! Sit back today and buy the dips if any!! The real news is not the jobs report FRYday but the growing intensity for breakdown in the middle east!! The panic buying for naked short deep pockets lulls only momentarily on a good jobs reports!! If lulls at all, which will be immediately bought up by unrest in the middle east!! No short term; "smart short," not wanting to cover a now losing trade! Wait until the retail short sheeple followers get home tonight and see the PM run!! The adult diaper will be sold out in giant two packs at costco!!

    ReplyDelete
  61. flauntFebruary 3, 2011 at 1:32 PM

    The answer to FUTF is FUBM!

    ReplyDelete
  62. afrumFebruary 3, 2011 at 1:36 PM

    Very savvy people here turd!! With gold closing above the 1350 mark; following through with silver ramp, at 1:30 pm est! The panic short deep pockets keep covering until NYC spot close 5:20 est!! All the dip buyers after 1:30 pm est just get inflated premium on long calls gld/slv as access market deep pockets continue to cover for Fryday!!!! I recommended at one hour after mkt open, to some friends of mine, to buy as the low of 1324.75; 27.97 were the lows at the crimex today!! Needless to say the ones taking that advice have plenty more paper silver profits to buy more physical!! Faint of heart may exit tomorrow for a big PM pop FRYday at the close and sit easy over the weekend!! More stealth ST players, may want to hold some weekend premium long calls for Monday if the middle east boils over!!

    ReplyDelete
  63. johnboatcatFebruary 3, 2011 at 1:48 PM

    WDTFDG

    where did the f_____g dip go!

    ReplyDelete
  64. Turd FergusonFebruary 3, 2011 at 1:57 PM

    Hmmm.
    This was a pretty good post.

    ReplyDelete
  65. WineGuyFebruary 3, 2011 at 1:58 PM

    WOW! I just got back from lunch with a customer and saw the GOLD Price. WTFJH?

    ReplyDelete
  66. kliguy38February 3, 2011 at 2:03 PM

    Short positions covered......now for the fun

    ReplyDelete
  67. XtyFebruary 3, 2011 at 2:23 PM

    Channeling Yoda: there is no 'dip', there is only 'buy'.

    ReplyDelete
  68. ColoradoGuyFebruary 3, 2011 at 2:33 PM

    Dollar and metals rising and falling together lately, this stuff is bananas.

    ReplyDelete
  69. WineGuyFebruary 3, 2011 at 2:35 PM

    Over at ZH everyone is giving their opinion as to why Au took off. Here in Turd land we know the answer. Turd said "Ready to Roll"! Enough said.

    ReplyDelete
  70. JohnFebruary 3, 2011 at 2:39 PM

    Yikes - Cramer just predicted $2000

    ReplyDelete
  71. kiyoteiFebruary 3, 2011 at 2:41 PM

    Dorky question...

    I follow the prices all day and I've been checking out the action in the NY Globex. Just wondering why there is a break between aprox. 5-6 PM eastern time? Do they take a seista or something? If it doesn't have a name, I propose PMS (for Precious Metal Siesta)!

    ReplyDelete
  72. BiosciFebruary 3, 2011 at 2:43 PM

    @xtybacq: That wasn't Yoda, that was Zuul. ;)

    ReplyDelete
  73. XtyFebruary 3, 2011 at 3:05 PM

    Oops. Yoda said 'Do or do not, there is no try.' So I guess it would be 'Dip or dip not, there is only buy.' Which ain't so good.

    ReplyDelete
  74. XtyFebruary 3, 2011 at 3:17 PM

    I live in Ottawa, and hubby just phoned from our local coin store - no silver, no platinum.

    ReplyDelete
  75. flauntFebruary 3, 2011 at 3:23 PM

    Turd, I wish you were a woman so I wouldn't feel so funny when I say... Turd's Bottom is looking pretty firm! lol

    ReplyDelete
  76. ColoradoGuyFebruary 3, 2011 at 3:23 PM

    I just recently placed an order for 10oz bars from Gville and they're not shipping until the 11th at the earliest. Looks like a lot of places are running low or having a hard time acquiring more. This game may be coming to an end soon if the smaller weights are now in short supply along with the 100oz which seem to be mostly gone now.

    ReplyDelete
  77. Turd FergusonFebruary 3, 2011 at 3:24 PM

    new post

    ReplyDelete
  78. RuiFebruary 3, 2011 at 9:17 PM

    I just noticed APMEX has an avalanche of their private 10-OZ bars available. That shop is special.

    ReplyDelete
  79. PatrickFebruary 3, 2011 at 9:56 PM

    Flaunt,

    LOL! Good stuff. I'm telling you that "Turd's bottom" jokes never get old if told in the correct manner!

    ReplyDelete

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